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Interim Budget 2019 Highlights & Impact on Real Estate

Interim Budget 2019 Highlights & Impact on Real Estate

Union Finance Minister Piyush Goyal presented an Interim Budget for 2019 in Parliament today. A full-fledged budget will be presented after the house reassembles after the general election.


1.) Tax to be levied after 2 years from the date of completion of a project allows developers more time to sell unsold inventory. This is a much required structural reform which will ease the operations of developers and reduce the incidence of the tax.


2.) The Interim Budget continues to push for more affordable homes with an extension of benefits under Sec 80(i)BA for one more year, for all housing projects approved until the end of 2019-2020. This should serve to expand this asset class even further and make it more attractive to more buyers as well as developers.


3.) The TDS threshold on rental income has been raised from Rs. 1.8 lakh to 2.4 lakh. This comes as a big incentive to many who are looking to invest in homes for investment purposes and earn rental income.


4.) Tax on notional rent from second self-occupied property has been waived off. This is a big boost to those who own second homes as well as those who have been seeking to do so. As a result, this will serve to boost demand for second homes as families grow bigger.


5.) Household disposable income has received a boost, thanks to the full tax rebate on individual annual income up to Rs. 5 lakh. Salaried standard deduction has been raised further to Rs. 50,000 from the earlier Rs 40,000. This increased savings is expected to increase confidence to invest in properties.


6.) The benefit of rollover of capital tax gains is propounded to be increased from investment in one residential house to that in two residential houses, for a taxpayer having capital gains of up to Rs 2 crores.


7.) Individuals with gross income up to 6.5 lakh rupees will not need to pay any tax if they make investments (Of Rs 1.50 lakhs)  in provident funds and prescribed equities or other tax saving options.


8.) No income tax on notional rent on the second self-occupied house


GST has been the biggest Indian tax reform since independence. The government continues to remain focused on simplifying GST. It aims to reduce the tax burden on homebuyers and the GST council will take the necessary steps to do so.

 

 


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  186. Greetings our friends from my little dusty corner of this world. Feeling confident we all had a remarkably productive week or so. Speaking for myself, for whenever i can say ME On top of that. A lot to obtain to at this point around so LETS Are ON!! The evening race starts at 9 p.m. outside the Shops at Legacy in Plano. The awards ceremony and post-race celebration in order to be hosted by Psycho Shannon from 106.1 918kiss download link and would feature refreshments, DJ music, and a live dance accuracy. Runners are encouraged to wear their lightest and brightest accessories and compete in the evening's costume contest. The other big landscape change came at 12:01 AM on November 2nd when a hundred and one.9 became WFAN FM. This whole thing started actually on July 17th when WEMP, the failed all-news experiment, abruptly came with halt. At 10:05 AM that morning, an announcement was made tha what is the news format was coming to an end and WEMP would go back to a "new rock" formatting. The cal letters were changed back to WRXP on July 25th and rock fans were happy to acquire their music to return. In their last book as a news station station, they pulled a .6. They never got any greater .7 throughout all their time as a newser. This book being a rocker, they pulled a single.6. They made it to a 2.2 in October and that was it. The rock was gone and WFAN had their FM outlet on November subsequently. We are very mindful the backlash Michael Vick received after his jail stint, that makes it sure to turn into a harsh sentence imposed not only by the law, but the NFL as well. The NFL is known for his stern requirements for both professional football players. But Groundbreaking, i was admit I had been flattered when on a lark I invited Britney Spears turn out to be my friend on Facebook and she accepted. Wow, I am now certainly one of her an buds. I'm talking her personal Facebook friend not the fan club (I joined that, too). Fremont-2: 1900's style festival with brass band and old fashioned games at Ardenwood, 34600 Ardenwood Blvd. Admission: adults $8, Children ages 4-17 $5, children under 4 are 100 percent free. Jeff - No, I simply appreciate you giving me the risk. Your questions are just fantastic. I thank you for the actual time to start this. I just appreciate all the fans out there for all the support over the years. They also been fantastic. Book out their internet site and follow me on twitter.

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